- As Discussed in Last Analysis Bank Nifty bulls need a close above 28900 for a move back to 29088/29225/29376. Bears will get active below 28650 for a move towards 28510/28350/28100. 28100 done below 28650, and we came near the gann angle. 02 Aug is important time cycle date so we can do price time squaring if we close above 28525 tomorrow. Bulls need a close above 28420 for a move towards 28552/28636/28721/28900. Bears will get active below 28215 for a move back to 28131/28047/27879.
- Intraday time for reversal can be at 9:26/11/12:3/1:55/2:21 How to Find and Trade Intraday Reversal Times
- Bank Nifty July Future Open Interest Volume is at 18.9 lakh with addition of 4.5 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29286 closed below it.
- 29000 CE is having highest OI @1.7 Lakh resistance at 29000 followed 29500. 28000-30000 CE added 15 Lakh in OI so bears added position in the zone of 29000-295000.
- 28000 PE is having highest OI @4.9 Lakh, strong support at 28200 followed by 28000.28000-29000 PE liquidated 15 Lakh OI so bulls making strong support in the range of 28100-28200.
- Bank Nifty Futures Trend Deciding level is 28566 (For Intraday Traders). BNF Trend Changer Level (Positional Traders)29091 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 28420 Tgt 28525,29636 and 28721 (Bank Nifty Spot Levels)
Sell below 28333 Tgt 28252,28100 and 27900 (Bank Nifty Spot Levels)
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